Brisbane apartment sales pick up

Brisbane’s unit market has recovered slightly in the June quarter, however, there is still a long way to go, according to Colliers quarterly International Brisbane Apartment Report.

The report, released yesterday, said 207 units were sold in the June quarter compared with 87 in the three months to March.

Brisbane project analyst and report author Lachlan Walker said while new unit sales had improved, the figures were a long way from the peaks between 2001 and 2004 when more than 500 units were sold per quarter.

“I think it’s a bit too early to say it’s been a recovery; it is more a sign of projects that can meet demand are finding buyers,” he said.

According to the report more than 1000 new units are currently on the market, a rise of almost 400 since March.

Brisbane’s unit market has recovered slightly in the June quarter, however, there is still a long way to go, according to Colliers quarterly International Brisbane Apartment Report.

The report, released yesterday, said 207 units were sold in the June quarter compared with 87 in the three months to March.

Brisbane project analyst and report author Lachlan Walker said while new unit sales had improved, the figures were a long way from the peaks between 2001 and 2004 when more than 500 units were sold per quarter.

“I think it’s a bit too early to say it’s been a recovery; it is more a sign of projects that can meet demand are finding buyers,” he said.

According to the report more than 1000 new units are currently on the market, a rise of almost 400 since March.